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Turkish operator to invest in Saudi airport expansion

Terminal, Architecture, Building Madinah Airport/X
Prince Mohammad Bin Abdulaziz International Airport served 9.4 million passengers in 2023

Turkish airport operator TAV Airports will invest $71.5 million as part of the $275 million expansion plan for Prince Mohammad bin Abdulaziz International Airport, better known as Madinah Airport, in Saudi Arabia, according to a media report.

The new investment will increase Madinah Airport’s passenger handling capacity to 18 million annually from the existing eight million per year, Daily Sabah, a Turkish news outlet, reported, citing a statement published on the state’s public disclosure platform. 

TAV Airports owns a 26 percent stake in Tibah Development, a joint venture with Saudi Arabia’s Al-Rajhi Holding Company that manages Madinah Airport.

The total investment will be made in two stages: building a new 40,000 sq m domestic terminal and redeveloping the existing terminal to increase passenger capacity.

The expansion will start in the first half of 2024 with completion planned in 2027.

TAV Airports CEO Serkan Kaptan said the company has operated Madinah Airport, the gateway to the Holy Land, with its partner Al-Rajhi Holding for the last 12 years.

He added that passenger traffic is increasing and the expansion will help accommodate growing demand.

Prince Mohammad Bin Abdulaziz International Airport served 9.4 million passengers in 2023, the newspaper said.

The consortium, comprising TAV Airports, started operating Madinah Airport in 2012, as the first airport privatisation project in Saudi Arabia.

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